Davidson Investment Advisors Has $33.23 Million Position in Arista Networks, Inc. (NYSE:ANET)

Davidson Investment Advisors increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 305.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,665 shares of the technology company’s stock after buying an additional 226,437 shares during the quarter. Arista Networks accounts for 1.6% of Davidson Investment Advisors’ portfolio, making the stock its 13th biggest holding. Davidson Investment Advisors’ holdings in Arista Networks were worth $33,233,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Proactive Wealth Strategies LLC grew its holdings in shares of Arista Networks by 387.6% in the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after buying an additional 4,865 shares during the period. Valley Wealth Managers Inc. grew its position in shares of Arista Networks by 339.6% during the 4th quarter. Valley Wealth Managers Inc. now owns 15,284 shares of the technology company’s stock worth $1,689,000 after purchasing an additional 11,807 shares in the last quarter. Bfsg LLC grew its position in shares of Arista Networks by 276.4% during the 4th quarter. Bfsg LLC now owns 10,333 shares of the technology company’s stock worth $1,142,000 after purchasing an additional 7,588 shares in the last quarter. Buckingham Capital Management Inc. bought a new position in Arista Networks in the fourth quarter valued at approximately $207,000. Finally, Kestra Investment Management LLC increased its stake in Arista Networks by 408.8% in the fourth quarter. Kestra Investment Management LLC now owns 15,171 shares of the technology company’s stock valued at $1,677,000 after acquiring an additional 12,189 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $106.64 on Tuesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09. The firm’s 50 day simple moving average is $113.94 and its 200-day simple moving average is $101.16.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ANET shares. Wells Fargo & Company raised their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Rosenblatt Securities boosted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Finally, Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $107.59.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock valued at $37,787,297 in the last three months. 3.54% of the stock is currently owned by insiders.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.